elexis AG / Key word(s): Half Year Results 04.08.2011 07:45 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- elexis AG ad-hoc announcement in accordance with § 15 of the Securities Trading Act (WpHG) on the final results of the first six months of 2011 *Successful performance for first half year with significant increase in order intake (+ 24%) and sales (+32%) *EBIT up significantly on the previous year at 10.6 million euros or 12.5 % of sales *New majority shareholder SMS provides new opportunities for profitable growth *Guidance for the 2011 financial year confirmed Wenden, 4 August 2011 - The elexis Group, which is listed on the SDAX and specialises in measurement and control automation, drive technology and handling automation, performed well in the first half of 2011. The positive expectations of the international economic barometers are reflected in the economic performance of the elexis Group. Order intake, sales and earnings The elexis Group's order intake increased compared to the same quarter in the previous year by 24 % and was 90.9 million euros as at 30 June 2011 (previous year: 73.5 million euros). Sales revenue totalled 84.6 million euros at the end of the first half of 2011 (previous year: 64.2 million euros). This equates to growth of around 32 %. Earnings before interest and taxes (EBIT) increased from 4.6 million euros in the previous year to 10.6 million euros as at 30 June 2011. The elexis Group achieved an EBIT margin of 12.5 % in the period under review following 7.2 % in the previous year. Performance of the divisions The High Quality Automation division experienced brisk demand in all product areas. This was seen in a steady increase in order intake and sales revenue in the first half of 2011. The order intake rose by around 20 % to 75,0 million euros (previous year: 62.3 million euros). Sales revenue totalled 69.3 million euros as at 30 June 2011 following 56.2 million euros in the previous year. This equates to an increase of 23 %. Earnings before interest and taxes (EBIT) totalled 11.0 million euros as at 30 June 2011 following 7.7 million euros in the previous year. This equates to an EBIT margin of 15.9 %. In the previous year the EBIT margin was 13.7 %. With this increase in earnings the High Quality Automation division has provided further proof that it is highly profitable. The High Precision Automation division experienced brisk demand. The order intake rose from 11.2 million euros in the previous year to 15.9 million euros as at 30 June 2011. Sales revenue rose in the first half of 2011 to 15.3 million euros (previous year: 8.0 million euros). The division's earnings position was positive in the first half of 2011. Earnings before interest and taxes totalled 0.9 million euros as at 30 June 2011 following minus 2.3 million euros in the previous year. This equates to an EBIT margin of 5.9 %. In the previous year the EBIT margin was still very negative, at minus 28.8 %. Equity and other KPIs The equity ratio rose once again to 55.1 % (31 December 2010: 52.2 %). Although the elexis Group's balance sheet ratios are stable and sound, it has a negative cash flow of - 2.4 million euros (previous year: + 4.2 million euros) before payments to plan assets and a net liquidity of 9.8 million euros (previous year: 9.3 million euros), Both KPIs have been negatively impacted by the settlement of the Elotherm legal dispute. As a result of the settlement negotiations, 2.0 million euros was paid in the period under review to the insolvency administrator of Elotherm GmbH. In addition to this, receivables rose by 5.1 million euros compared to 31 December 2010 due to the increase in sales and invoicing reasons. Outlook According to the IMF, the global economy is likely to grow by 4.4 % in 2011. The emerging countries, which are expected to grow overall by 6.3 %, will remain the driving force for the economic recovery. The industrial countries are expecting growth of around 2 %. The European and US debt crisis, the political unrest in North Africa and the Arab world and fluctuating prices for energy and raw materials are all a source of uncertainty with regard to overall economic development. The engineering industry, although weakened, is still on course for growth in 2011. The industry is expecting production to increase by around 14 % in 2011. Against the background of the continuing economic recovery, the elexis Group is expecting an increase in sales and earnings for the whole of 2011. As reported at the Annual General Meeting on 19 May 2011, an order intake of between 165 and 175 million euros is expected. Sales revenue is expected to be between 155 and 165 million euros. The EBIT margin is expected to be between 11.5 and 13.5 %. Together with SMS GmbH, which is elexis AG's new majority shareholder with a holding of 88.95%, we will usher in a new decade of growth at elexis AG throughout 2011. elexis is not only a measurement and control specialist in the metal sector, but is also the specialist for quality assurance and automation in the non-metal sector and for highly complex automation solutions in the plastics sector. With SMS GmbH we intend not only to expand our position as market leader in the metal sector with new applications, but also achieve market leadership in the non-metal sector and in our High Precision Automation division. As SMS GmbH has stated, there will be no changes for our customers, suppliers and employees. With our independence assured, we will continue to expand our technology leadership in our product areas of quality assurance systems, control technology, drive technology and high precision automation in the non-metal sector. The SMS GmbH also provides the elexis Group with the independence and financial strength of a family-run company and therefore potential for anorganic growth. The full interim report for the first six months of 2011 can be downloaded in German and English at www.elexis.de. Shares of elexis AG are listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN: DE 000 508 500 5). 04.08.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: elexis AG IndustriestraÃe 1 57482 Wenden Germany Phone: +49 (0)2762 612 - 130 Fax: +49 (0)2762 612 - 135 E-mail: eicke@elexis.de Internet: www.elexis.de ISIN: DE0005085005 WKN: 508500 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: elexis AG: final results of the first six months of 2011
| Source: EQS Group AG